Finance Act, 1990

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“BOND, COVENANT, or INSTRUMENT of any kind whatsoever.

(1) Being the only or principal or primary security for any annuity (except upon the original creation thereof by way of sale or security, and except a superannuation annuity), or for any sum or sums of money at stated periods, not being interest for any principal sum secured by a duly stamped instrument, nor rent reserved by a lease.

For a definite and certain period, so that the total amount to be ultimately payable can be ascertained—

where the total amount does not exceed £20,000

Exempt

where the total amount exceeds £20,000:

for every £1,000, or any fractional part of £1,000, of the amount secured

£1.00

Provided that the duty so charged shall not exceed £3,000.

For the term of life or any other indefinite period:

for every £100, or any fractional part of £100, of the annuity or sum periodically payable

£2.50

Provided that the duty so charged shall not exceed £3,000.

(2) Being a collateral or auxiliary or additional or substituted security for any of the above-mentioned purposes where the principal or primary instrument is duly stamped.

Where the amount secured does not exceed £20,000

Exempt

Where the total amount to be ultimately payable can be ascertained and exceeds £20,000

£10.00

(3) In any other case:

for every £100, or any fractional part of £100, of the annuity or sum periodically payable

50p

Provided that the duty so charged shall not exceed £3,000.

(4) Being a grant or contract for payment of a superannuation annuity, that is to say, a deferred life annuity granted or secured to any person in consideration of annual premiums payable until he attains a specified age and so as to commence on his attaining that age.

For every £100 or any fractional part of £100 of the annuity

50p

“CONVEYANCE or TRANSFER on sale of any stocks or marketable securities.

(1) Where a conveyance or transfer is on a sale of units in a collective investment undertaking within the meaning of section 18 of the Finance Act, 1989

Exempt

(2) Of any other kind whatsoever not herein-before described:

for every £100, or any fractional part of £100, of the consideration

£1.00

“CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities.

(1) Where the amount or value of the consideration for the sale does not exceed £5,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £5,000

Exempt

(2) Where the amount or value of the consideration for the sale exceeds £5,000 but does not exceed £10,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £10,000:

for every £100, or any fractional part of £100, of the consideration

£1.00

(3) Where the amount or value of the consideration for the sale exceeds £10,000 but does not exceed £15,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £15,000:

for every £100, or any fractional part of £100, of the consideration

£2.00

(4) Where the amount or value of the consideration for the sale exceeds £15,000 but does not exceed £25,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £25,000:

for every £100, or any fractional part of £100, of the consideration

£3.00

(5) Where the amount or value of the consideration for the sale exceeds £25,000 but does not exceed £50,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £50,000:

for every £100, or any fractional part of £100, of the consideration

£4.00

(6) Where the amount or value of the consideration for the sale exceeds £50,000 but does not exceed £60,000 and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £60,000:

for every £100, or any fractional part of £100, of the consideration

£5.00

(7) Of any other kind whatsoever not hereinbefore described:

for every £100, or any fractional part of £100, of the consideration

£6.00

(8) Where in the case of a conveyance or transfer on sale or in the case of a conveyance or transfer operating as a voluntary disposition inter vivos the consideration for the sale or the value of the property exceeds £5,000 and the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is related to the person or each of the persons immediately theretofore entitled to the entire beneficial interest in the property in one or other of the following ways, that is to say, as a lineal descendant, parent, grandparent, step-parent, husband or wife, brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband or wife or brother or sister:

a duty of an amount equal to one-half of the ad valorem stamp duty which, but for the provisions of this paragraph, would be chargeable under this Heading.

“DUPLICATE or COUNTERPART of any instrument chargeable with any duty.

(1) Where such duty does not amount to £10

The same duty as the original instrument

(2) In any other case

£10.00

“LEASE

(1)For any indefinite term or any term not exceeding 35 years:

of any dwelling house, part of a dwelling house, or apartment at a rent not exceeding £6,000 per annum

Exempt

(2) For any definite term or for any indefinite term of any lands, tenements, or heritable subjects—

(a) where the consideration, or any part of the consideration (other than rent), moving either to the lessor or to any other person, consists of any money, stock or security, and—

(i) the amount or value of such consideration does not exceed £5,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds £5,000

Exempt

(ii) the amount or value of such consideration exceeds £5,000 but does not exceed £10,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds £10,000:

for every £100, or any fractional part of £100, of the consideration

£1.00

(iii) the amount or value of such consideration exceeds £10,000 but does not exceed £15,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, of the aggregate amount or value, of the consideration other than rent exceeds £15,000:

for every £100, or any fractional part of £100, of the consideration

£2.00

(iv) the amount or value of such consideration exceeds £15,000 but does not exceed £25,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds £25,000:

for every £100, or any fractional part of £100, of the consideration

£3.00

(v) the amount or value of such consideration exceeds £25,000 but does not exceed £50,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds £50,000:

for every £100, or any fractional part of £100, of the consideration

£4.00

(vi) the amount or value of such consideration exceeds £50,000 but does not exceed £60,000 and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds £60,000:

for every £100, or any fractional part of £100, of the consideration

£5.00

(vii) the case is of any other kind whatsoever not hereinbefore described:

for every £100, or any fractional part of £100, of the consideration

£6.00

(b) where the consideration or any part of the consideration is any rent, and in respect of such consideration where the rent, whether reserved as a yearly rent or otherwise, is at a rate or average rate:

(i) if the term does not exceed 35 years or is indefinite:

for every £100, or any fractional part of £100 of the rent

£1.00

(ii) if the term exceeds 35 years but does not exceed 100 years:

for every £100 or any fractional part of £100 of the rent

£6.00

(iii) if the term exceeds 100 years:

for every £100 or any fractional part of £100 of the rent

£12.00

(3) Lease made subsequent to, and in conformity with, an agreement duly stamped under the provisions of section 75 of the Stamp Act, 1891

£1.00

(4) Of any other kind whatsoever not hereinbefore described

£1.00

“MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security) and WARRANT OF ATTORNEY to confess and enter up judgment.

(1) Being the only or principal or primary security (other than an equitable mortgage) for the payment or repayment of money:

where the amount secured does not exceed £20,000

Exempt

where the amount secured exceeds £20,000:

for every £1,000, or any fractional part of £1,000, of the amount secured

£1.00

Provided that the duty so charged shall not exceed £3,000.

(2) Being a collateral, or auxiliary, or additional, or substituted security (other than an equitable mortgage), or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped:

where the amount secured does not exceed £20,000

Exempt

where the amount secured exceeds £20,000

£10.00

(3) Being an equitable mortgage:

where the amount secured does not exceed £20,000

Exempt

where the amount secured exceeds £20,000

for every £1,000 or any fractional part of £1,000, of the amount secured

50p

Provided that the duty so charged shall not exceed £3,000.

(4) TRANSFER, ASSIGNMENT or DISPOSITION of any mortgage, bond, debenture, or covenant (except a marketable security) or of any money or stock secured by any such instrument, or by any warrant of attorney to enter up judgment, or by any judgment:

where the amount secured does not exceed £20,000

Exempt

where the amount secured exceeds £20,000:

for every £1,000, or any fractional part of £1,000, of the amount transferred, assigned, or disposed, exclusive of interest which is not in arrear

50p

Provided that the duty so charged shall not exceed £3,000.

(5) Where any further money is added to the money already secured

The same duty as a principal security for such further money.

“RELEASE or RENUNCIATION of any property, or of any right or interest in any property—

upon a sale See CONVEYANCE ON SALE in any other case

£5.000

“SURRENDER of any property, or of any right or interest in any property—

upon a sale See CONVEYANCE ON SALE in any other case

£5.00

“SHARE WARRANT issued under the provisions of the Companies Acts, and STOCK CERTIFICATE to bearer, expressed in the currency of the State

A duty of an amount equal to 3 times the amount of the ad valorem stamp duty which would be chargeable on a deed transferring the share or shares or stock specified in the warrant or certificate if the consideration for the transfer were the nominal value of such share or shares or stock.